TRADE - TARIFFS , DETAILED ANALYSIS Flashcards
1
Q
customs union
A
free trade area between two or more ocuntires with a common external tariff applied to all outside coutnries
2
Q
what do they agree to do in a customs union
A
abolish tariffs and quotas between meeber nations
adopt an external tarifff
3
Q
why do they abolish tariffs and quotas between member nations
A
ecncourage free movemnt of g/s
4
Q
explain adopting a common external tariff
A
on g/s coming in from non member countries
5
Q
give example of custom sunion
A
eu
6
Q
in a customs union goods and service can move freely without need a
A
customs check
